Cryptocurrency market September 29, according to cryptonew: Bitcoin price extended its decline below the USD 42,000 support, but returned above it and is currently rebounding (04:30 UTC). However, there are plenty of hurdles on the top near $ 42,500.
Similarly, most of the major altcoins trade above the major support levels. ETH has settled below $ 3,000 but the bulls are defending $ 2,800 and $ 2,750. XRP is stabilizing near the $ 0.900 pivot level. ADA remains above the critical $ 2.00 support.
After the Bitcoin price closed below $ 43,000, it extended its decline. BTC traded below the $ 42,500 and $ 42,000 support levels. It even got below $ 41,000, but the bulls showed up at $ 40,800. The price is currently rising to $ 42,400. The next major resistance is near $ 42,500, above which price could gain momentum.
On the flip side, instant support is at $ 41,200. The next major support is currently forming near $ 40,800, below which the price could start a steeper decline.
Ethereum price settled below the $ 3,000 level and extended the decline below $ 2,900. ETH was trading below $ 2,880 but has remained stable above the critical support of $ 2,750. It rises and can test the USD 2,950 resistance. The main hurdle is now near the $ 3,000 mark.
On further decline, the initial support is at $ 2,800. The main breakout support remains near the $ 2,750 mark.
Cardano (ADA) fell below the $ 2.12 and $ 2.10 support levels. It even got below $ 2.05, but the bulls were active above $ 2.00. The price is trading in a range near $ 2.05 with the main hurdle being near $ 2.10. The next major resistance to a major rally is currently forming at $ 2.12.
Litecoin (LTC) is trading under the support of $ 142. It even went below $ 140 before bouncing back above $ 145. If the bulls push the price above $ 148, a move towards the $ 155 resistance is likely. On the downside, $ 140 is an important area of support.
Dogecoin (DOGE) traded below the USD 0.20 support before returning above it. The next big support is near the $ 0.192 level. Any further losses could lead the price towards the USD 0.180 support level.
XRP price has settled below $ 0.950 but the bulls are defending losses below $ 0.88. It is currently near $ 0.900 with immediate resistance at $ 0.935. The first major resistance is at $ 0.950, above which a rally to the key resistance of $ 1.00 is possible.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.
Many altcoins are still down more than 5%, including DCR, REN, LUNA, XTZ, FTM, MANA, AVAX, ONE, ATOM, STX, NEAR, and MIOTA. Conversely, the DYDX rebounded 20% and broke the $ 24 level.
Overall, Bitcoin price remains above the important $ 40,800 support and is currently trying to rebound towards $ 42,500. BTC could accelerate unless there is a clear break below $ 40,800 and $ 40,000.
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